Commercial
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October 28, 2024
Gov't Defends GSA's Ohio Office Lease Award
The federal government has urged the U.S. Court of Federal Claims to swat down a bid protest from a company claiming the General Services Administration unfairly awarded a 15-year office lease in Ohio to another company.
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October 28, 2024
EB-5 Industry Eyes Legislative Fixes To USCIS Struggles
A 2022 revamp brought the EB-5 investment visa program a boost in interest and respectability, but as frustrations continue with U.S. Citizenship and Immigration Services, industry players are hoping new legislation is a better alternative than litigation.
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October 28, 2024
No COVID Property Tax Break For Hotels, Wash. Court Told
Hotels in Washington state should not get property tax breaks for COVID-19 because the pandemic was not a natural disaster that allows relief, the assessor of the state's most populous county told a state court.
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October 28, 2024
NYC Real Estate Week In Review
Gibson Dunn and Seyfarth Shaw are among the law firms that steered the largest New York City real estate deals that hit public records last week, a list headlined by a pair of Brooklyn deals above the $200 million mark.
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October 28, 2024
Hotel Guests Ask 3rd Circ. To Look At Algorithm Price-Fix Suit
Three Atlantic City guests are taking their beef with hotel-casinos to the Third Circuit after a New Jersey federal court threw out their lawsuit that accused hotel owners in the town of using an algorithm to inflate the price of rooms.
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October 28, 2024
Linklaters, White & Case Rep DigitalBridge's Yondr Buy
DigitalBridge Group Inc. will purchase data center company Yondr Group for an undisclosed amount, in a deal guided by Linklaters LLP and White & Case LLP, the global alternative asset management company announced Monday.
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October 28, 2024
King & Spalding Steers Data Center Co.'s $1.5B Fundraise
Cologix has raised $1.5 billion in capital with guidance from King & Spalding that will allow the company to build new data centers in the future, with an emphasis on its core markets in Virginia, Ohio and Canada.
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October 28, 2024
Ind. Tax Board Denies Exemption For Undeveloped Property
A religious organization in Indiana cannot claim a property exemption for a property to be developed because it was unable to show substantial progress toward the completion of the building, the state Board of Tax Review said.
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October 28, 2024
Paul Hastings Adds REIT Partners In Boston, Chicago
Paul Hastings LLP announced Monday that a pair of experienced real estate attorneys who have worked on some of the industry's largest initial public offerings have joined its Boston and Chicago offices as partners — additions the firm said are part of a strategic focus on capital markets.
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October 25, 2024
US Trustee Opposes NJ Building's Receiver Stipulation
The U.S. Trustee's Office is asking a New York bankruptcy judge to hold off a decision regarding the receivership of a New Jersey building owned by New York developer Moshe Gold until the judge decides what court the bankruptcy should be heard in, if any.
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October 25, 2024
Steward Gets OK For 7 More Hospital Sales
A Texas bankruptcy judge said he would approve the sale of seven more of Steward Health Care's hospitals to affiliates of California-based Healthcare Systems of America, including five in Florida and two in Texas.
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October 25, 2024
'Starting Point' Algorithm Enough To Fix Prices, DOJ Says
The Justice Department is using the first algorithmic price-fixing case to reach an appeals court to argue that just because an algorithm only set "starting points" doesn't make its use legal, in a Ninth Circuit amicus brief backing efforts to revive a room rate lawsuit against Las Vegas casino hotels.
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October 25, 2024
Weyerhaeuser Expects To Hit $1B In Timber Deals By 2026
The CEO of lumber company Weyerhaeuser told investors in a call Friday that it expects to close $1 billion worth of "strategic timberland acquisitions" by the end of 2025.
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October 25, 2024
Property Plays: Skyline, Rockefeller Center, Capital One Arena
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
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October 25, 2024
Clarion Partners Sells Bay Area Office Complex For $162M
Real estate investment firm Clarion Partners sold off an office complex in San Francisco's East Bay area to commercial real estate company PSAI Realty Partners in a $162 million deal guided by Newmark Group Inc., the real estate adviser announced.
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October 25, 2024
Wells Fargo Wants Quick Win In NYC Office Foreclosure Suit
Wells Fargo is urging a New York federal court to grant it an early win in its commercial mortgage foreclosure suit as it seeks to take control of a midtown Manhattan office building after the owner fell behind on its $31.5 million loan.
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October 25, 2024
Cleveland Browns Sue City To Protect Stadium Move Plan
The Cleveland Browns took their city to Ohio federal court to protect their plan to move the NFL team to an adjacent town, saying a Buckeye State law restricting how and when sports teams can move out of taxpayer-supported stadiums is unconstitutional.
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October 25, 2024
Adams Rips Feds, Calling Explanation For Leaks 'Far-Fetched'
Attorneys for New York City Mayor Eric Adams on Friday renewed their claims that the prosecutors handling his bribery and corruption case leaked secret grand jury information to the press, arguing that the alternative explanation that either Adams or his co-defendants made the leaks was a "far-fetched claim."
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October 24, 2024
2nd Circ. Largely OKs Gun Control Law After High Court Order
The Second Circuit on Thursday stood by its previous decision that largely vacated an order enjoining several of New York's gun restrictions, saying a recent U.S. Supreme Court ruling the high court told it to consider on remand had "little direct bearing" on its prior conclusions.
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October 24, 2024
2nd Circ. Revives Claims Against Insurer In $21M Injury Suit
The owners of a construction site entangled in litigation over a worker's spinal cord injury can keep pursuing breach of contract claims against the insurance company that backed the worker's ostensible employer, the Second Circuit ruled Wednesday, overturning a lower court.
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October 24, 2024
NYC Council Passes Bill Requiring Hotel Licenses
The New York City Council passed a bill Wednesday that requires hotel operators to be licensed with the government in order to do business in the city.
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October 24, 2024
La. Biz Development Office Extends Industrial Tax Break Regs
An emergency rule in Louisiana extended the effectiveness of regulations implementing a recently issued gubernatorial executive order that made several adjustments to the state's industrial tax exemption program.
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October 24, 2024
EPA, Air Force Commit To PFAS Plan For Tucson Airport
The U.S. Environmental Protection Agency and the Air Force said they're committing to a framework to address "forever chemical" contamination at the Tucson International Airport Area Superfund Site in southeastern Arizona.
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October 24, 2024
Atlanta Demands End To Almost-Starbucks Demolition Suit
The City of Atlanta has asked a Georgia federal judge to finally put an end to a suit from a company that says the city illegally initiated condemnation proceedings against a disused restaurant property, telling the court the suit contains "no substantive claims regarding any federal question."
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October 24, 2024
Miami Development Site Draws $35M Stalking Horse Bid
A nearly 16-acre site along Biscayne Boulevard in Miami drew a $35 million stalking horse bid, setting the opening offer for the site ahead of a court-ordered sale in January.
Expert Analysis
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Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law
A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.
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$175M Bond Refiled By Trump Is Still Substantively Flawed
The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.
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Calif. Ruling Shows Limits Of Exculpatory Lease Clauses
A California court's recent decision in Epochal Enterprises v. LF Encinitas Properties, finding a landlord liable for failing to disclose the presence of asbestos on the subject property, underscores the limits of exculpatory clauses' ability to safeguard landlords from liability where known hazards are present, say Fawaz Bham and Javier De Luna at Hunton.
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Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Payment Provision Lessons From NJ Construction Ruling
A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.
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Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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A Legal Playbook For Stadium Construction Agreements
As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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The Challenges SEC's Climate Disclosure Rule May Face
Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.